Donald Trump can enjoy income tax-free living for the rest of his life

[dalton99]

http://www.thedailybeast.com/articles/2016/11/01/why-donald-trump-may-never-pay-federal-income-tax-again.html

Why Donald Trump May Never Pay Federal Income Tax Again
The alleged billionaire, last known to have paid up in 1977, may not have to until 2042—if then.
David Cay Johnston
11.01.16 4:45 PM ET

The documents in The Times confirm what I told readers a month ago about how Trump transformed taxable income into tax avoidance on a grand scale. Since then, numerous tax practitioners and professors have written their own essays applying the same line of analysis first published in my Oct 3. column, headlined “Art of the Steal.”

That column drew on three pages of 1995 state tax return summary sheets leaked to The Times and the New York Daily News. In its initial report, The Times said that Trump could use $916 million of net operating losses or NOLs shown on those documents to eliminate income taxes for up to 19 years.

What I can now report is that Trump is not restricted to using or losing his tax losses over 19 years but can offset income for as long as he lives.

Based on his 1995 income, Trump could enjoy 47 years of income-tax-free living. That would cover Trump until 2042, when he would turn 96.